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Dec 1, 2012 3:00am PST
% and limiting loopholes and deductions. $50 billion in stimulus next year and $400 billion in medicare and other entitlement savings to be worked out. >> i think that the proposal that was delivered here by secretary goieithner to the speaker and me yesterday is not a serious proposal. >> they want to have this extra spending that actually greater than the amount they're willing to cut. >> but democrats say it was just a starting point and one republicans should counter. >> there is going it be some prolonged negotiations and all of us are going to have to get out of our comfort zones to make that happen. >> reporter: cnn has learned last week the republicans gave the white house their own starting position, which democrats consider unbalanced. extending all the bush-era tax rates, including for people making $250,000 and up. raising revenue through tax reform. and cutting medicare in part by increasing the eligibility age. both democrats and republicans are playing for leverage against the clock and democrats are feeling emboldened by election results that gave them more seats in the house and
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